find some part time job ...

Well,

am having few side income. But this is not about side income. Just wanna know any LYNers got good saving tips on daily expenses.

@zenwell,
If I recall there's oredi an existing thread on that topic - perhaps u could just do a search?

yup i agree with you. my friend was a student at talyor and he is doing part time job for kumon tution center. and he is earning that figers you said.

I went to CIMB today and realised that the FD rate for 1 year has decreased to 3.5% only. Then I'm wondering, FD rate for 1 month is 3% ,is it possible for me to put 5k in FD for 1 month and upon maturity get back 103%,then put it in FD again with 1 month period and earn 3%,upon maturity get another 3% and keep repeating the sequences. Is this possible?

tq

You have tp remeber that the rates you see is "per annum" rate.
I.e. for your example; it's 3% divided by 12 months - 0.25% interest per month.

is it advisable to do so? Like what i've suggested in my previous post.

tq

When you compound your 0.25% interest monthly you still loose out to the 3.5% 12 months placement.
By compounding 0.25% on the 5k placement based on your example, after 1 year you get to take out RM5152.08 (roughly 3.04% interest profit).
By putting 5k for 1 year on the rate 3.5% you get RM5175 at the end of maturity.

So your choice.

btw, ppl go by monthly because they can't ascertain that they wouldn't use the money; so they placed it on a monthly basis and automatically renewal. Whereas if one knows that for the full one year he/she wouldn't be using that amount of money, than it is advisable to put one shot for the full year tenure to get a better interest return. But bare in mind that halfway down the road if so happened the money is needed, they can only get back what they placed but not the interest earned.

i think most people will put their emergency fund into FD, so when they need money, they can take out anytime without losing the capital but interest, and if they don't need the money for the year, they could earn some interest ... so is a win win situation ...

FD totally not a investment to earn money IMO ... although most people espesicially older generation still think it is to earn money ...

That is why ppl do split placement of a shorter tenure instead of tie it down for the full 1 year in order not to loose interest.

That is because last time, FD interest rate is quite high.

I'm pretty sure I'm not alone in the world with this kind of thinking.

Today I was in the local groceries and I wanted to purchase a box of Panadol. Now, they come in both 12 and 24 packs. The 12 pack is $5.99, the 24 pack is $11.49.

I stood there thinking, should I spend the extra money and get the 24 pack one since it is cheaper and keep the unused ones? Or just stick to the 12 pack one and save money?

This is a very basis of my question. It may seem like a small sum, but imagine putting this kind of thinking to a bigger scale.

Am I wrong to think like this?

it's right.. buying when cheap is good for resellers..

but for user.. never buy if u dont use it...

Used to buy in bulk for cheaper price. because this is how 'm being brought up by my mum. She always shop like this
but now I slowly realise that this is a waste of money.

It is waste of money if not going to consume that much, remember, it has expiration date. Also if bought too many, you might forget where you stored it, and really need time, buy again. So it might be a waste of money which depends on one's situation.

This post has been edited by cherroy: Dec 19 2008, 10:57 AM

I think the important rule to follow here is to ask urself how much extra ur spending, instead of how much ur saving

im only buy bulk when i know it's my frequent usage goods!

if u foresee urself every month headache n sick more than 4 times, then can consider lo...

Anyway excessive dosage of panadol is not good for your health

In term of amount saved per month, it is enough at your age.

Try to learn more on investment, personal finance & investment vechiel especially Unittrust. There are online UT agents locall:

https://www.eunittrust.com.my/ or
http://www.fundsupermart.com.my

As you are only 18, u should invest in fund rather than park your mony in FD. Remember, DO NOT HOLD a fund forever. Profit taking and rebalancing is always necessary in achieving your goal. Ofcos, you need to set a goal in the first place.

I am willing to tell more if you want to know more.

I am interested but I do not have any knowledge regarding investment especially Unit Trust. Please enlighten me.

tq

unit trust aka mutual fund is like this ...

you and other people give 10k to the so called expert fund managers, and they will use the money to buy/invest on those bond / stock ...

means you pay someone to invest money for you ....